A Federal High Court in Kaduna has ordered the interim forfeiture of N1.373 billion to the Federal Government over allegations that the funds were diverted into the private account of Indo Kaduna Marts JV Nigeria Limited.
Justice G. M. Kabara issued the order on February 28, 2025, following an application filed by the Federal Government on February 14.
According to court documents cited by our correspondent on Wednesday, the forfeited amount was traced to an Independent Corrupt Practices and Other Related Offences Commission recovery account at the Central Bank of Nigeria as part of an ongoing probe into financial dealings involving Kaduna State Government officials between 2015 and 2023.
A source familiar with the case confirmed that the funds were recovered in the course of investigations into suspected misappropriation by state officials.
“The forfeited amount was recovered in the course of an ongoing investigation into officials of the Kaduna State Government,” the source said.
As part of the legal proceedings, the court directed that a notice be published in two national newspapers, inviting any interested parties to present reasons why the funds should not be permanently forfeited to the Federal Government.
“The defendant is hereby ordered to temporarily forfeit the sum of N1,373,180,510.07 to the Federal Government of Nigeria,” Justice Kabara ruled.
The case, marked FHC/KD/C5/28/2025, was brought under the Advance Fee Fraud and Other Related Offences Act, 2006, and the Proceeds of Crime (Recovery and Management) Act, 2022.
The defendant, Indo Kaduna Marts JV Nigeria Limited, has been charged accordingly.
The matter has been adjourned to April 8, 2025.
